SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are Genentech Inc., Advanced Micro Devices Inc., Gannett Co. and Harley-Davidson Inc.
Advanced Micro Devices Inc. (AMD) is expected to post a first-quarter per-share profit of 30 cents, according to analysts polled by Thomson First Call.
Circuit City Stores Inc. (CC) is expected to report fiscal fourth-quarter earnings of 77 cents a share.
Gannett Co. (GCI) is seen posting a first-quarter profit of 99 cents a share.
Harley-Davidson Inc.'s (HDI) first-quarter earnings are expected to be 86 cents a share.
Lam Research Corp. (LRCX) is expected to post a third-quarter profit of 62 cents a share.
Media General (MEG) is seen posting a per-share profit of 29 cents in its first quarter.
After Tuesday's closing bell, Genentech Inc. (DNA) reported a 48% spike in its first-quarter profit, due largely to better-than-expected sales of its oncology drugs Herceptin and Avastin. See full story.See After Hours column.
Alberto-Culver Co. (ACV) has paid Regis Corp. (RGS) a $50 million breakup fee, according to a company filing with the Securities and Exchange Commission. As a result, Alberto-Culver said it will take a pretax charge of $50 million in its third quarter. The breakup fee payment was required after Regis, a Minneapolis-based beauty salon operator, terminated its merger agreement with Alberto-Culver last week.
Avid Technology Inc. (AVID) said it expects first-quarter net earnings in the range of $700,000 to $2 million, or 2 cents to 5 cents a share, on revenue of $216 million to $218 million. Excluding items, the Tewksbury, Mass.-based company expects a per-share profit of 35 cents to 38 cents. Analysts polled by Thomson First Call had forecast earnings of 49 cents a share on revenue of $230 million. For 2006, the company expects a per-share profit of 95 cents to $1.20, or $2.15 to $2.40 excluding items, on revenue of $940 million to $970 million. Analysts are looking for a per-share profit of $2.80 on revenue of $1.01 billion.
California Pizza Kitchen Inc. (CPKI) said it now expects first-quarter earnings of 22 cents to 23 cents a share. The Los Angeles-based restaurant chain had previously forecast per-share earnings of 21 cents to 22 cents, and an increase in same-restaurant sales of 5% to 6%. The company said it now expects same-restaurant sales up 6.4% for the period. Analysts polled by Thomson First Call are currently looking for first-quarter earnings of 22 cents a share on revenue of $129 million. Additionally, California Pizza Kitchen said it sees revenue of $129.7 million for the quarter.
Callaway Golf (ELY) said it expects first-quarter earnings to come in below Wall Street estimates and for revenue to be flat compared with last year. See full story.
Emulex Corp. (ELX) said it expects third-quarter per-share income of 10 cents to 11 cents, compared to its prior view of 17 cents 18 cents. The company is looking for pro forma per-share income of 20 cents to 21 cents, compared with its prior view of 27 cents to 28 cents. Analysts polled by Thomson First Call are looking for third-quarter per-share income of 27 cents. Emulex now expects quarterly revenue of $88 million to $89 million, compared with its prior view of $106 million to $108 million, with analysts looking for $107 million.
Fisher Scientific International Inc. (FSH) said it has agreed to acquire privately held Clintrak Pharmaceutical Services for $125 million in cash. Clintrak, a provider of label generation and supply-chain management services, had 2005 revenues of $31 million. Fisher expects the deal to close in the second quarter. The company also said it has acquired privately held TC Tech. Financial terms were not disclosed. Fisher expects the acquisitions to have no impact on its 2006 earnings, and to add to its 2007 earnings.
Goodrich Corp. (GR) said it's selling its turbomachinery products division for $83 million to a company formed by investment firm Admiralty Partners. Goodrich expects a $10 million to $15 million, or 8 cents to 12 cents a share, after-tax gain from the sale, though some of that will be offset by losses at the division. The deal for the unit, which makes turbine engine parts and does overhaul work, is expected to close in the second quarter, Goodrich said.
Estee Lauder Cos. said late Tuesday it has sold its Stila brand to Stila Corp., an affiliate of a private equity firm Sun Capital Partners Inc. Financial terms were not disclosed. Estee Lauder said it has accounted for Stila as a discontinued operation since its fiscal first quarter, and that it expects to take an additional charge as of the end of its fiscal third quarter related to the sale. The exact amount of the charge has not been determined, the company said.
John H. Harland Co. (JH) said it expects first-quarter per-share income of 75 cents to 78 cents, up from its previous view of 60 cents to 65 cents. For the full year, the software provider expects per-share income of $2.90 to $2.95, above its prior forecast of $2.73 to $2.78.
Legg Mason Inc. (LM) is slated to replace Guidant Corp. (GDT) in the S&P 500. See full story.
Pixelplus Co. (PXPL) said it expects first-quarter revenue to be below its prior view. See full story.